Continuing his attack on Narendra Modi government, former finance minister P Chidambaram today said the ruling dispensation has "harmed" the economy through its policies.
"Demonetisation was a foolish decision. (Migrating to) Goods and Services Tax (GST) structure was a good idea. I had proposed it in 2006 when I was finance minister. However, the BJP, then in opposition, had opposed it for eight years. After coming to power in 2014, the BJP introduced GST in a wrong manner," the senior Congress leader said while addressing a lecture on "Indian Economy: Scenario and Impact", organised by the Kolhapur Chamber of Commerce and Industries.
He said the GST has become a Gabbar Singh Tax under the current NDA government.
The former finance minister also accused the Central government of "total failure" in handling the "banking crisis".
"Management of the economy in era of globalisation needs a different and complex skill set. In the current situation, the Indian Economy needs a drastic medicine. Please, don't harm the economy anymore in the remaining one year," he said.
Chidambaram had said last night in Thane that Indian economy has become like a car whose three tyres are punctured even as he attacked the Modi government on rising petroleum prices and other issues.
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